Country requires $40b to adopt climate change by 2030: Zahid Hamid

Federal Minister for Climate Change Zahid Hamid has said that in order to meet Pakistan’s voluntary international commitment of reducing green house gas emissions by 20%, Pakistan requires financial assistance of 40 billion USD by 2030.

He said this while speaking to a national workshop on ‘Forging Partnership for Climate Compatible Development’ organised by LEAD Pakistan and CDKN.

Speaking to the audience Zahid Hamid said that USD 14 billion annually is also required to adapt to climate change impacts.

He said that Pakistan has developed comprehensive policies and plans that include both adaptation and mitigation measures however, availability of adequate finance is a major hurdle to implement such policies.

‘Securing such levels of investment is a major challenge and we hope that the financial commitments in the Paris Agreement regarding the availability of at least US $ 100 billion per year by 2020 will be released’ he added.

He said that Pakistan climate change bill had just been passed by the senate and would become law after assent of the President